On Monday, July 18, the price of the leading cryptocurrency topped $22,000. In the last 24 hours the asset rose 4%, according to CoinGecko.
At the time of writing, Bitcoin was trading near $22,200.
The second-largest cryptocurrency by market cap rose 6.6% over the last 24 hours. Ethereum is currently trading above $1,450.
Following the leaders, all top-10 cryptocurrencies by market capitalization have moved into the green zone. The total market value has surpassed $1 trillion. The BTC dominance index stands at 40.1%, ETH at 16.5%.
After the July 13 release of the US inflation report, the price of Bitcoin fell below $19,000. However, by the end of last week the asset had retraced the drop and on July 17 breached the $21,000 level.
On the same day Ethereum tested a range above $1400 amid the upcoming migration of the blockchain to the Proof-of-Stake consensus algorithm (PoS).
Earlier, leading developers, during another call tentatively approved the mainnet merge with the Beacon Chain testnet for September 19, 2022. The final date will largely depend on the Goerli PoS testnet rollout, scheduled for August 11.
was the worst for digital gold in 11 years, according to data from Coinglass. The asset fell 56.2%, from $45,000 to $19,884.
According to Galaxy Digital boss Mike Novogratz, the downturn in the crypto market is expected to last about another 18 months, with the first signs of a recovery for the industry appearing after the Fed eases monetary policy. ФРС.
Investor Michael Burry, who predicted the mortgage crisis of 2007, forecasted continued decline in Bitcoin’s price.
Most Bloomberg survey respondents deemed the most likely Bitcoin price to fall to $10,000 rather than rise to $30,000.
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